A discouraging report suggesting the US economy may have shrunk at the start of the year, before most of President Donald Trump's announced tariffs could take effect, is knocking US stocks lower on Wednesday. The S&P 500 was down 2% in morning trading and on track to break a six-day winning streak. The Dow Jones Industrial Average was down 702 points, or 1.7%, as of 9:55 am Eastern time, and sharp drops for such AI superstars as Super Micro Computer had the Nasdaq composite falling a market-leading 2.5%. The weaker-than-expected report on the US economy surprised financial markets because economists were expecting to see modest growth, particularly after the economy closed last year running at a solid pace. But importers rushed to bring products into the country before tariffs could raise their prices, which helped drag on the country's overall gross domestic product. Such data raises the threat of a worst-case scenario called stagflation, one where the economy's growth stagnates .
In the past five days, the BSE IT index has slipped nearly 10 per cent, and it has tanked 26 per cent thus far in calendar year 2025.
Analysts are already beginning to discuss the possible "Japanification" of China, referencing the long, deflationary stagnation that plagued Japanese economy after its boom years ended in early 1990s
Economists expect measures to raise disposable incomes and tariff cuts to encourage local manufacturing
Nomura Nifty target: Nomura suggests investors stay highly "selective" and bet on stocks and/or sectors with relative valuation comfort
A lot has changed. Both nations are more than a little concerned about how they will revive slowing growth
India's swelling urban middle class has been the engine of its growth for far longer than government capex has
While rural demand has shown an uptick, rising food inflation and a slowdown in credit growth pose challenges, potentially dampening the country's growth in the second quarter of 2024-25
Capital expenditures across 18 states declined by 6% year-on-year between April and August in FY25, totalling Rs 1.67 trillion, down from Rs 1.78 trillion during the same period the previous year
PwC's US unit will lay off around 1,800 workers, its first formal job cuts since 2009, as part of a restructuring process amid decreased demand for certain services, its US leader, Paul Griggs said
The European Union Chamber of Commerce in China said in the latest edition of its Position Paper
With most large steel-consuming hubs globally facing subpar economic activities in the near term, global steel trade flows have been increasingly redirected to high-growth markets like India
The British group rejected a merger offer from rival Iliad in Italy last month in favour of pursuing other options
The government's capital expenditure has boosted growth and provided resilience to the Indian economy. Incipient signs of this crowding in private investments are visible
Global economic growth is estimated to fall to its lowest rate in three decades by 2030 amid the ongoing economic and geopolitical shocks, a new report said on Monday. Releasing the Future of Growth Report 2024 here ahead of its annual meeting of world leaders, the World Economic Forum (WEF) said this downturn is exacerbating a range of interconnected global challenges, including the climate crisis and a weakening social contract, which are collectively reversing progress in global development. The report called for a new approach to economic growth that balances efficiency with long-term sustainability and equity, examining speed, and quality together. Analysing the quality of growth across 107 economies, it found that high-income economies score high on innovation and inclusion, while lower-income economies on sustainability. "Reigniting global growth will be essential to addressing key challenges, yet growth alone is not enough," WEF Managing Director Saadia Zahidi said. "The .
Commerce and Industry Minister Piyush Goyal on Wednesday exuded confidence that during this fiscal, the country will maintain the last year's export figures despite slowdown in global trade. He said that India's exports of goods and services rose to USD 776 billion in 2022-23 from USD 500 billion two years ago. "Globally growth has been negative, international trade is in the negative territory, estimates are that this year international trade may fall, and in that perspective after having grown so rapidly we are looking at a phase of consolidation... "and I expect that the current year, we will maintain our figures of last year and strengthen our processes and our domestic capacities, capabilities to be able to grow at much faster rates in the years to come," Goyal told reporters here. Cumulatively, the country's merchandise exports in April-November 2023-24 contracted by 6.51 per cent to USD 278.8 billion. The estimated value of services export during the eight-month period stood
The highest pre-placement offer (PPO) at IIT Guwahati stood at Rs 1.10 crore as five students received offers above Rs 1 crore
The survey also mentioned that services companies in India reported an increase in their expenses in October due to higher food, fuel, and staff costs
"This was a disappointing quarter, in our view, as guidance fell just short of likely elevated expectations," Edward Jones analyst Logan Purk said
American companies operating in China view tensions with Washington over technology, trade and other issues as a major hindrance for their businesses there, according to a survey by the American Chamber of Commerce in Shanghai. The survey released on Tuesday showed a continued downgrading of China's importance as an overseas destination for investment, even though two-thirds of the 325 companies responding said they had no immediate plans to change their China strategy. Just over one in five of the companies surveyed said they were decreasing their investment in China this year, with the top reason being uncertainty about the US-China trade relationship, followed by expectations of slower growth in China, it said. Overall, the survey showed sentiment worsened from last year, when companies were embroiled in disruptions from zero-COVID policies that caused parts of entire cities, transport networks and travel to be shut down, sometimes for weeks at a time. Such disruptions were a ma